| SB 0888 | PSC must set ratemaking principles before new generation is constructed and DNR must act on permits within 180 days |
| Sponsor: | Gross | |||
| LR Number: | 3495S.02I | Fiscal Note: | 3495-02 | |
| Committee: | Commerce and Environment | |||
| Last Action: | 01/21/02 - Second Read and Referred S Commerce & Environment | Journal page: | S125 | |
| Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2002 | |||
SB 888 - This act requires the Public Service Commission to
specify ratemaking principles in advance of construction of
electric generating facilities of greater than 300 MW. The PSC
will not be limited to traditional ratemaking principles or cost
recovery mechanisms. The ratemaking principles must be
determined in a contested case proceeding. After the entry of
the order specifying the ratemaking principles, the utility will
have the option to construct, lease or withdraw its application
for a certificate. The principles will not be binding on
subsequent rate cases. The Department of Natural Resources is
also required to approve or deny permit applications within 180
days of receipt.
CINDY KADLEC